Oppenheimer Asset Management Inc. Purchases 175 Shares of M&T Bank Co. (NYSE:MTB)

Oppenheimer Asset Management Inc. raised its position in shares of M&T Bank Co. (NYSE:MTB) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,558 shares of the financial services provider’s stock after acquiring an additional 175 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.06% of M&T Bank worth $18,906,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its position in shares of M&T Bank by 13.9% during the third quarter. FMR LLC now owns 12,349,398 shares of the financial services provider’s stock valued at $2,199,675,000 after buying an additional 1,508,846 shares during the last quarter. State Street Corp raised its position in shares of M&T Bank by 6.4% during the third quarter. State Street Corp now owns 8,773,439 shares of the financial services provider’s stock valued at $1,562,725,000 after buying an additional 527,854 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of M&T Bank by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,037,144 shares of the financial services provider’s stock valued at $897,216,000 after buying an additional 190,837 shares during the last quarter. Geode Capital Management LLC raised its position in shares of M&T Bank by 1.6% during the third quarter. Geode Capital Management LLC now owns 4,329,814 shares of the financial services provider’s stock valued at $768,824,000 after buying an additional 66,337 shares during the last quarter. Finally, Senvest Management LLC raised its position in shares of M&T Bank by 12.3% during the third quarter. Senvest Management LLC now owns 882,841 shares of the financial services provider’s stock valued at $157,252,000 after buying an additional 96,500 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Vice Chairman Gary N. Geisel sold 2,490 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $215.89, for a total value of $537,566.10. Following the completion of the transaction, the insider now owns 16,429 shares of the company’s stock, valued at $3,546,856.81. The trade was a 13.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of M&T Bank from $216.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $223.50 price target (up previously from $215.00) on shares of M&T Bank in a research report on Wednesday, December 4th. Piper Sandler increased their price target on shares of M&T Bank from $205.00 to $243.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Wells Fargo & Company increased their price target on shares of M&T Bank from $190.00 to $205.00 and gave the stock an “underweight” rating in a research report on Friday, November 15th. Finally, DA Davidson increased their price target on shares of M&T Bank from $222.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $221.68.

M&T Bank Price Performance

MTB opened at $189.54 on Thursday. The company has a fifty day moving average price of $194.90 and a two-hundred day moving average price of $190.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 0.98. M&T Bank Co. has a 52 week low of $133.03 and a 52 week high of $225.70. The firm has a market capitalization of $31.15 billion, a PE ratio of 12.96, a P/E/G ratio of 1.38 and a beta of 0.79.

M&T Bank (NYSE:MTB) last released its earnings results on Thursday, January 16th. The financial services provider reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.22. M&T Bank had a net margin of 19.24% and a return on equity of 10.12%. During the same quarter last year, the firm posted $2.74 earnings per share. As a group, analysts anticipate that M&T Bank Co. will post 16.57 earnings per share for the current year.

M&T Bank declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 22nd that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

M&T Bank Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, March 3rd. M&T Bank’s dividend payout ratio (DPR) is 36.91%.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management and investment services. It operates through the following segments: Business Banking, Commercial Banking, Commercial Real Estate, Discretionary Portfolio, Residential Mortgage Banking, and Retail Banking.